Lloyds TSB named best performing employer on improving racial diversity

Lloyds TSB has been named as the best performing employer when it comes to efforts on improving racial diversity.

A report by Race for Opportunity, a network that promotes racial diversity in the workplace, ranked the bank at number one, followed by BT and West Bromwich Building Society.

The study is based on information provided by 85 of the group’s 170 members and covers four areas people, customers and clients, community involvement and supplier diversity. The combined workforce of the organisations evaluated was 1.6 million people.

Mike Fairey, the bank’s deputy chief executive, said: “At Lloyds TSB, diversity is on the agenda at the most senior levels in the organisation, and by taking part in the benchmarking report, we want to ensure the bar continues to be raised for diversity best practice.”

According to the report, organisations’ understanding of the business case for race diversity has rocketed. In 2001, just 38% of businesses claimed to have mapped-out the business case for race diversity. The figure now stands at 92% in 2008.

A new trend identified in the report was for companies within the same industry to work in partnership in efforts to attract black and minority ethnic people. Schemes run by investment banks and law firms were singled out for praise.

However, despite an increase in the number of ethnic minorities recruited to junior positions within companies, there has been little or no movement of ethnic minority people into senior management jobs. Ethnic minorities still remain under represented on the boards of UK companies, the report said.